How to Quit Your Job and Make Money
In this article we are talking about how to quit your job and make money. For most people, being self-employed means freedom from the 9-5, being able to set your own hours, and achieving financial freedom. In other words, they want to control their own destiny from home.
While this is appealing, being your own boss takes discipline, responsibility and massive concentration. It helps to have a craft or a skill from an industry like tradesman, which would include plumbers, carpenters, electricians, masonry people or maybe your skill is from real estate.
Self-employed people such as freelancers or entrepreneurs live and work with little or no restrictions and in most instances have no boss.
How to Quit Your Job and Make Money: What Skills do I Need?
What’s your talent or skills? Even those who have no formal trade have choices – some prefer to be no-stress Uber drivers or food delivery persons or child care workers and they work part time. And although they have no formal trade, they make reasonably good money and have no boss. Unfortunately, many of these jobs do not make much money and the future looks rather plain. Financial growth requires skills and you require more money and status.
The United States Bureau of Labor Statistics publishes job data that reveal 15% of workers have no boss. Freelancers really do enjoy freedom. They use their skills travelling from job to job or today we say from gig to gig. Entrepreneurs are generally considered business builders. They want a business that will take care of them in the future.
It’s important to not sugar-coat what it means to be a freelancer or entrepreneur. By that I mean these business people are not walking on the beach each afternoon or playing golf. Both require discipline hard work and lots of risk taking.
What’s important is that you don’t buy into any fallacies about how easy it is to be successful. Otherwise, you create pressure and constant money worries and broken relationships by day dreaming.
Before we make the big change, before you walk out on that job, I want to assure you this is not a piece of cake. Most freelancers and entrepreneurs will quit a job working 40 hours a week and end up working 60 hours a week for themselves.
How to Quit Your Job and Make Money:
Discovering Tax-defaulted Property
Several years ago I discovered something that wasn’t well-known but not new to the business world. It was a subset of the traditional real estate business. I was blind to my discovery for some reason. When I finally woke up and discovered tax liens and tax deeds, I was shocked and the more I investigated, the more excited I became.
It’s not difficult to understand. It works like this. Local governments which we call county governments and municipalities have employees like school teachers and fire fighters and a sheriff and police department. These employees must be paid.
To pay for these people, the state legislature, which is the government body that runs the state, mandates that the local county supervisors or county commissioners have a treasurer to levy and collect property taxes. If they cannot collect property taxes, the treasurer is authorized by the legislature to seize the delinquent property. The treasurer confiscates the property and then evicts the tenant or owner and pushes them off the property and finally, the treasurer sells the property at a public auction which they announce on the county website and in the newspaper.
The treasurer sets the sale price to sell the property quickly. The tax assessor has assessed the property, however the treasurer will discount the sale price 60%, 70%, 80% below the tax value. They do that to facilitate a quick sale. The auction property will be sold to the highest bidder without a mortgage or a deed of trust loan.
The county treasurer is authorized by the state legislature to cancel or wipe out the mortgage and the deed of trust loan. The auction purchaser receives a treasury deed to the property with no mortgage or deed of trust loan.
In all 3000+ counties across the United States, local governments will have dozens, sometimes hundreds or thousands of properties to auction every year. Some of the properties are junk but many simply require some clean up and maybe some fixing up, and can be sold for a healthy profit.
If you’re wondering how to quit your job and make money, and you’d like to get started today, you can begin now at no cost by taking advantage of Ted’s FREE Master Class. It’s only about 1 hour of streaming video and will open your eyes to the incredible opportunities available in tax delinquent real estate investment.
How to Quit Your Job and Make Money: An Example
For example, a buildable residential lot in a nice subdivision may have a value of $50,000 according to the assessor. However, at the public auction, starting bid could only be 5 cents on the dollar. If you were the high bidder at 20 cents on the dollar, you would own a $50,000 lot for $10,000.
What would you do to cash out? Advertise on Craig’s list or eBay or Zillow. Contact a broker. Put it on the MLS system. Use Zillow or Trulia. Or put signs on the property. Here’s a breakdown:
- Tax assessed value $50,000
- Quick Sale Price $25,000
- Your investment $10,000
Wow, $15,000 profit potential! Nice deal – low risk, high reward. For over 200 years the government locally has been selling tax defaulted real estate. You would never worry about having a boss.
If you’re wondering how to quit your job and make money, I have a free gift for you, a 1-hour, streaming-video mini course that will teach you the secrets of one of the safest high yielding investments available and how to generate cash flow in real estate.
If you’ve decided it’s time to take charge of your financial future, then this Free Course is the best way to get yourself started on the road to success!